IHTM25106 - Valuing the partnership interest: Agricultural land owned by deceased and occupied by a partnership

In the course of your investigation you may find that the deceased owned land which had been let to a partnership of which the deceased was a member. Unless it is clear from the information already supplied, ask the taxpayer to state:

• the terms on which the partnership occupied the land
• how those terms are evidenced.

You should obtain copy of any documentary evidence (e.g. a lease).

Before you refer to the Valuation Office ( IHTM23002), you have to determine whether or not the land should be valued subject to the tenancy.